Goldman Sachs Maintains Neutral on Corn Products

Goldman Sachs reiterates its Neutral rating on Corn Products International (NYSE: CPO) as it sees attractive prospects for 1H12, but faces likely challenges in 2H12 and 2013.

Goldman says, “We expect Corn Products to exceed consensus expectations in 2012 as favorable sweetener fundamentals and our outlook for higher corn prices drive margins. However, earnings growth may slow thereafter as corn reverts lower towards a $5.00-5.50 fundamental value, and increased competition from new corn oil supplies emerges as a drag later this year.”

CPO closed at $49.73 per share on Monday.